Mr. Rockne Timm reports

GOLD RESERVE ANNOUNCES RETIREMENT OF ROCKNE TIMM

Gold Reserve Inc.'s Rockne J. Timm, chief executive officer and a director of the company, will retire after more than 35 years of leadership. Mr. Timm's retirement as chief executive officer will be effective as of Feb. 13, 2024, at which time he will also resign from any officer positions held by him in the company's subsidiaries, but will continue to serve as a director of the company and its subsidiaries.

James H. Coleman, executive chairman, said: "Rocky's exceptional contributions over the years are innumerable. His focused leadership and strong work ethic have been invaluable to the development and success of the company during times when we faced significant challenges. We had hoped that this day would not come, but after more than 35 years, Rocky has decided to enjoy a well-deserved retirement. He will be missed and we all wish him the very best in retirement. We also look forward to his continued support of the company in his role as a director and a trusted adviser."

The company is currently working to identify a suitable successor to replace Mr. Timm.

We seek Safe Harbor.